Watchmaker brand Titan Industries has entered the multi-brand watch market with the launch of Helios, a multi-brand watch store in Bengaluru. Depending on the success of the pilot effort, Titan plans to open 100 stores across the country in three to five years, reports Hindu Business Line.
Titan sees a huge opportunity in the premium to affordable luxury segment in the country. Commenting on the development, Harish Bhat, COO, Watches, Titan Industries said, “The watch industry in India is estimated at Rs 25 billion. While the overall market is growing at 5 per cent per annum, the premium to luxury market is growing rapidly at an astonishing rate of 35 per cent.”
Spread across 2,650 square feet the Helios store will retail 36 watch brands including brands of Titan in the premium to luxury category with the price range of Rs 5,000 to Rs 75,000.
Added Bhatt, “These watches will be bought by the upper-middle to upper class people and in testing times, they will look at a reliable name like Titan. Watches are not linked to EMIs and interest rates, they bring in a feel-good effect. People with disposable incomes want to choose carefully from a range of inspirational brands, which is why we decided to enter the multi-brand segment. In markets like West Asia, multi-brand watch stores have really done well even in these times.”
Helios will display over 2,200 watches in which some of the brands are Swiss such as Raymond Weil, Ebel, Titan Xylus, mainstream premium brands such as Seiko, Citizen and Titan and fashion brands such as DKNY, Fossil, Esprit, Emporio Armani, Tommy Hilfiger and Hugo Boss.
— IndiaRetailing Bureau